Auric Mining (ASX:AWJ) Secures $6.3M in August with 2024 Production Target of 300K Ounces

2 min read | August 16, 2024 10:05 AM AEST | By Team Kalkine Media

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Auric Mining (ASX:AWJ) Secures $6.3M in August with 2024 Production Target of 300K Ounces — Image source: Shutterstock

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**Auric Mining Ltd (ASX:AWJ) Secures $6.3M in August as Jeffreys Find Gold Mine Production Hits Milestones**

Auric Mining Ltd (ASX:AWJ) has announced that gold sales from its Jeffreys Find Gold Mine in Western Australia will generate $6.3 million in August, with gold currently selling at an average of A$3,697 per ounce. The company is making significant strides towards its 2024 production target of 300,000 ounces, with the Greenfields Mill set to process 150,000 tonnes of ore in its second campaign for the year.

As of August 14, nearly 129,000 tonnes have already been received by the mill. Managing Director Mark English highlighted that the robust gold price has positively impacted the project's economics. "Total gross gold sales for 2024 have been received by the Joint Venture at just under $3,700 an ounce," said English.

He added that the Jeffreys Find Gold Mine is expected to generate approximately $25 million in gross gold sales over the next month as the mill processes the current 150,000-tonne parcel. Auric plans to bank $3 million in total this month, including a $2 million surplus cash distribution from the Joint Venture and a $1 million working capital repayment.

The company is on track to extract over 20,000 ounces of gold this year, with further milling of 120,000 tonnes scheduled towards the end of 2024. Auric Mining Ltd's shares are currently trading at 24 cents.

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